Which Industries Has Software Development Impacted the Most?

It’s a field that’s integral to so many industries worldwide, and its influence is undeniable. If the massive title hasn’t given it away, we’re talking about software development. From technology, finance, healthcare and education, software development has left a very positive mark on these sectors. Its imprint will be long-lasting, and now, several other industries want to leverage the latest software development technologies. As software development ventures into other industries, the need for new skills and new software developer jobs will increase. 

What are they, we hear you ask? Well, read our guide to find out! Or just skim it or even scroll down; whatever suits you, we’re sure our piece covers it.

Core Industries Where Software Development is Prevalent

Software development’s influence is far-reaching. Its application has allowed for the advancement of several industries, including tech, finance, healthcare, and retail. As technology evolves, software development’s impact will grow and become integral to other industries. But before we get into that, let’s see how it’s changed the following industries. 

Fine-Tuning Technology

The relationship software development shares with technology could be likened to a case of ‘you scratch my back, I’ll scratch yours.’ As technology becomes more sophisticated, so does software development, and vice versa. It’s shaped much of our current digital world and will undoubtedly contribute to future changes. Automation is an area of tech that has already been driven by software development. 

Automation

Automation has provided a welcome reprieve from mundane tasks in many roles, and people have software development to thank for that. Businesses across multiple industries can operate much more efficiently with scalable systems that significantly reduce the risk of errors. Software development has been the catalyst for the following:

• Automation Tools: Software developers are the minds behind several specialised tools that have automated repetitive tasks. For example, Robotic Process Automation (RPA) platforms like UiPath and Prism streamline data entry tasks and invoice processing. 
  
  
• Integration: Software development has made seamless integration between various systems possible, allowing for end-to-end process automation. APIs facilitate communication between applications and automate workflows across systems. 
  
  
• Harnessing Data: Data-informed decision-making is essential for the growth of many industries. With AI and machine learning, automated e-Procurement systems leverage predictive analytics to refine supply chains and detect fraud. Substantial data sets can be analysed with platforms like Hadoop and Spark, allowing businesses to make data-backed choices. 
  
  
• Industrial Automation: Industry 4.0 represents a pivotal point in the digitisation of manufacturing and has seen the implementation of cutting-edge control systems. Spearheaded by bespoke software, programmable logic controllers (PLCs) and supervisory control and data acquisition (SCADA) systems enable the control and monitoring of production lines. 

Automation is a broad component of software development, and such is our passion for tech; we have a guide covering the shift in UI test automation. 

Evolution of Mobiles

Each iteration of a mobile phone is more powerful than the last, and software development contributes to this. Mobile operating systems and applications have substantial computing capabilities. The way we access information, communicate, and perform daily tasks has been transformed by mobile phones and software development. Here are some interesting summarising points: 

• Camera Capabilities: We’ll make this snappy (sorry). Software development has given smartphones features like night and portrait mode and HDR. 
  
  
• Battery Life and Charging: Adaptive battery technology is a software-based solution that uses ML algorithms to analyse user behaviour and manage power consumption.  
  
  
• Security Features: Biometric authentication, like facial recognition and fingerprint sensors, has galvanised security measures. 

Fintech: Revolutionising Finance  

From trading and investment to risk management and compliance, financial institutions have changed how they operate because of software development. Here’s an overview of the areas: 

Digital Banking

Banking has been revolutionised by software development and has emphasised accessibility through mobile and online banking operations. These applications support actions such as: 

• Checking bank balances 
• Transferring funds 
• Loan applications 

Developments in the field have also seen a surge in personalised banking. Banks can capitalise on data analytics and AI to provide customers with the following:

• Financial advice based on spending 
• Bespoke product recommendations 
• Automated savings features

By studying customer data and using the latest software technology, banks are in a position to offer relevant services. 

Trading and Investments

Another sector of finance that’s been impacted by software development is trading and investments. It’s influenced several elements, such as: 

• Algorithmic Trading: Sometimes referred to as algo-trading, software developers have built complex algorithms that analyse market data, execute trades, and handle portfolios much more efficiently than humans. These algorithms are capable of executing trades and placing orders in microseconds or nanoseconds. 
  
  
• High-Frequency Trading (HFT): A subset of algorithmic trading, HFT depends on powerful software to complete trades at high speeds. HFT companies can execute multiple trades in fractions of a second and capitalise on minute price discrepancies across many markets. 
  
  
• Quantitative Analysis: Quant traders and analysts use tools such as QuantConnect to develop and backtest trading strategies with historical data and create intricate models to forecast market movements. 
  
  
• Robo-Advisors: These digital platforms offer widely accessible automated financial investment services. They use algorithms to create and handle investment portfolios according to the user’s goals and are typically cheaper than human advisors. 
  
  
• Risk Management: Software development has elevated risk management and regulatory compliance in the finance sector. Users can be alerted of suspicious activities, and regulatory software Fenergo aids with financial laws such as KYC (Know Your Customer) and AML (Anti-Money Laundering).

The Rise of HealthTech

Many aspects of the healthcare industry have been moulded by software development - and this has led to the term ‘healthTech.’ What does this mean? The World Health Organisation defines it “as the application of organised knowledge and skills in the form of devices, medicines, vaccines, procedures and systems developed to solve a health problem and improve quality of lives.”

It’s been a key driver behind enhanced patient care, streamlining administrative processes, and opens up the possibility for exciting, innovative medical advancements. 

Improving Patient Care

Healthcare delivery has seen significant changes due to the development of software. Here are some prime examples: 

• Electronic Healthcare Records (EHR): EHRs provide a centralised platform for storing patient data, giving healthcare professionals a clear overview of patients’ medical histories. This detailed information enables informed diagnoses and tailored treatment plans. 
  
  
• Telemedicine: Software platforms have seen an increase in telemedicine. This allows for remote consultations - which is particularly valuable for those with mobility issues. 
  
  

Streamlining Operations

Software development in healthcare has improved efficiency. Automating routine tasks has refined processes and freed up resources. Examples include: 

• Appointment Scheduling: Automated systems allow patients to book appointments online, reducing phone traffic and staff workload. 
  
  
• Patient Portals: Enable people to view their medical records and interact with healthcare professionals. 
  
  
• Practice Management Software: These platforms integrate administrative functions like scheduling, billing, and reporting. Centralising operations improves workflow and allows staff to focus more on patient care. 
  
  

Ramping up Retail

Customers are central to retail. Software development and SaaS applications have taken consumer experiences to new heights. In addition to that, there are other advancements due to this field. 

Customer Experience

Satisfying customers is critical to a company’s success. It can lead to repeat purchases and build loyalty. Software development is helping businesses consistently improve consumers’ experiences in several ways:

• Personalisation: Retailers can use AI to analyse customer data and offer relevant products. This is a huge benefit, given that personalised recommendations can increase average order value (AOV) by up to 369%. 
  
  
• Mobile: Every man and his dog has a mobile - we’re willing to bet your furry friend has an Instagram, how long until they actually have a mobile? Anyway, the millions of mobile apps mean customers can browse and purchase from the comfort of their devices. 
  
  
• Augmented Reality (AR): Many apps have features leveraging AR so consumers can try on products without visiting a store. 
  
  

SaaS e-Commerce Platforms

You’ll be familiar with the phrase, 'The customer is always right.’ But that’s enough about the consumer. How has software development, and more specifically SaaS, helped retail businesses? 

• Shopify: Launched in 2006, Shopify has cemented itself as a leading SaaS solution for entrepreneurs. It supports selling through various channels and offers 24/7 customer support. 
  
  
• BigCommerce: Founded in 2009, BigCommerce is a powerful cloud-based SaaS e-Commerce platform that helps businesses of all sizes manage their online stores. It fuses the agility of open-source solutions with the functionality and security of SaaS. 
  
  

Industries That Software Development is Influencing

Unquestionably, software development has meant the aforementioned industries have been able to make significant strides. As this field advances, the scope for other industries to benefit broadens, as does the possibility of new software developer jobs. 

Accelerating Agriculture

For this industry to grow, it is essential agriculture software solutions are implemented as they help with the following. 

Farm Management and Planning

Software solutions are improving farmers' ability to develop and oversee their operations more efficiently. Functions include: 

• Crop rotation calendars. 
• Planting and harvesting timelines. 
• Field management strategies. 

Precision Farming and Integrating IoT

Advancements in software development have resulted in increased accuracy in agriculture. Here’s how: 

• Sensor Integration: IoT devices can collect real-time data on soil moisture, temperature and humidity. 
  
  
• Accurate Application: This data can help farmers determine the amount of fertiliser, water, and pesticides to use. 
  
  
• Crop Monitoring: Drones and satellites collect images that software can analyse to establish crop health. 

EduTech’s Transforming Learning

How students learn and how teachers inspire the next generation (who knows, there could soon be a spate of junior software developers) are experiencing changes because of software development. 

Learning Experiences

Developments have meant the birth of interactive learning platforms. These solutions combine simulations and gamification to make learning more engaging. 

• Virtual Reality and Augmented Reality (VR and AR): VR and AR technologies allow students to experiment with 3D simulations and virtual labs. Essentially, this tech transcends what’s possible in a traditional classroom. 
  
  
• Personalised Learning: Everyone learns in different ways. Some people like to watch demonstrations, others are visual learners, and many prefer to read - we really hope you're in that camp for the sake of this guide! Adaptive learning systems in today’s education institutions can tailor learning material to students' needs. 

Efficient Administration

Education institutions use software solutions to refine administrative tasks that include: 

• Student information systems that look after records and attendance. 
• Learning management systems (LMS) that organise materials and assignments. 
• Data analytics tools that monitor student progress and identify areas of improvement. 

Taking Transportation Further

Alright, this is the final stop on our discussion of industries. Let’s examine which areas of software development can enhance transportation. 

Route Optimisation

Public transport isn’t the most reputable. However, software development is at the forefront of challenging that notion. One way is by using algorithms to factor in distance, time, fuel consumption and real-time traffic to establish the best routes. Other methods include:

Improving Passenger Experience

Passengers are customers, too, so it’s important that the experience is a pleasant one. Software development has seen the rise of: 

• Ride-Sharing Platforms: Companies like Uber use software to connect drivers with passengers, allowing them to see exactly when they’ll be collected. 
  
  
• Transit Apps: Public transportation companies use mobile apps that allow passengers to book tickets and provide updates for real-time visibility. 

Final Say: Industries Impacted by Software Development

Innovation across a multitude of core industries has been a result of software development. Efficiency has improved, customer experiences have been elevated, and as it continues to evolve, the possibility for new software development jobs grows, too. 

From automating tedious tasks to developing bespoke solutions, how industries operate and communicate has changed forever. Technology, finance, healthcare and retail have already benefitted from its influence. It doesn’t appear to be stopping there. Its impact is now being seen in agriculture, education, and transportation. Who knows what other industries will be in the future? 

As tech marches on, so will software development. Industries will continue to be reshaped and generate more software development jobs. It's evident that software development is paramount for progress. We’ve seen what it’s capable of, and it’s exciting to imagine what’s possible as this field showcases its prowess in other domains. 

We Have the Software Recruitment Solutions You Need

Our guide demonstrates that it’s an extremely exciting time for software development - and we share that excitement. Visit our dedicated software page for proof of that. 

We’re not just passionate about software development. We’re passionate about supporting you and helping you achieve your goals. If you’re unsure how to recruit software developers, contact us today and discover how we can help you.